2023 Integrated Annual Report: Accelerating the Export Impact (EDC Investments)

Summary

• EDC supported $131.4 billion in exports, foreign investment and trade development activities in 2023, including $27.7 billion in emerging markets compared to $27.6 billion in 2022.p.11
• Canadian exporters receiving EDC support generated 22% more revenue, had 15% higher employment and 5% greater employee productivity.p.13
• EDC's support equated to $94.4 billion in GDP and more than 520,000 full-time equivalent jobs, or 3.3% of total Canadian GDP and 2.6% of national employment.p.13
• EDC's insurance program helped more than 10,400 customers close approximately $100 billion in export sales.p.11
• EDC served 4,297 women in trade customers and facilitated $8.7 billion in business for women in trade.p.26

Key insights

1. EDC earned $3.8 billion in loan revenue and guarantee fees, and its financing activities delivered approximately $31 billion in new financing.p.11
2. The number of financial customers rose by 6%, from 15,845 customers in 2022 to 16,763 in 2023.p.12
3. Small Canadian companies supported with financial products reached 10,864, an annual increase of 3%.p.12
4. The number of medium-sized companies using EDC's financial solutions reached more than 1,240, an increase of 6% compared to 2022.p.18
5. The Trade Confidence Index stood at 65.7 at the end of 2023, based on more than 1,200 Canadian exporters.p.15
6. Among survey respondents, 40% expected financing conditions to worsen and only 49% of those who asked a financial institution received full support.p.15
7. Less than 5% of Canada's businesses export their goods and services.p.5
8. EDC's 2030 strategy has an ambitious goal of helping grow Canada's exports by 60% by 2030.p.16
9. EDC facilitated $563 million in business for Indigenous clients, below its target of $650 million.p.26